Toronto, Ontario -- A major dealership operator based in Canada is divesting itself of 13 franchised locations in the U.S.
AutoCanada Inc. has entered into agreements to sell 13 franchised dealerships from its U.S. operations segment. It will receive about $82.7 million (US$60.4 million) for the sales, including $6.4 million (US$4.7 million) from real estate. The locations are being purchased by multiple undisclosed buyers.
The dealerships, all of which are located in Illinois, include Autohaus of Peoria (Audi, Mercedes-Benz, Porsche and Volkswagen -- pictured), Bloomington Automall (Audi, Lincoln, Mercedes-Benz, Subaru and Volkswagen), Chevrolet of Palatine, Crystal Lake Chrysler Dodge Jeep Ram, Hyundai of Palatine and North City Honda.
The transactions are subject to customary closing conditions, including approvals from the OEMs, and are expected to close in the second half of 2025.
AutoCanada had previously classified its U.S. operations as a discontinued segment in its 2024 financial reporting. The company is continuing efforts to sell its remaining four U.S. dealerships: Hyundai of Lincolnwood, Kia of Lincolnwood, Toyota of Lincoln Park and Toyota of Lincolnwood, all of which are also located in Illinois.
AutoCanada’s U.S. operations, which operate under the Leader Automotive Group banner, sold about 12,900 vehicles in 2024. Its Canadian operations span 64 franchised dealerships and 29 collision centres, with roughly 85,000 new and used retail vehicles sold last year.
